Sia Coin (SC) has reached a new all time high today, trading as high as 808 Satoshi's, or a little over $0.02, according to coinmarketcap.
If you aren't already aware, Sia is a decentralized private cloud, meaning that they offer encrypted storage for your files, distributed across the network, eliminating a single point of failure. This failure typically comes in the form of a government entity, doing the bidding of a corporate entity, who steps in and regulates what type of information is held there, such as real world cases like Mega Upload.
If you look at their pricing, it's about 10% of what you would typically pay for any well known service. And those well known services have limitations and inherit safety flaws due to their centralization and love of regulation. I honesty wish I had a need for this service! I think one of the main failings of crypto and decentralization today is that we spend most of our time speculating on the price of their coins, rather than actually using the technology.
I definitely think $0.02 is a good price for any coin, but the real value is in the real world usage of the technology. And the more we use it, the longer it's likely to stay around, and the more incentive there is for the dev's and companies to improve things.
Sia social links
Check out this overview of Sia by @bravenewmoney
Agree on the benefit of this technology (and current SC HODLer), but even though the data may be stored in an encrypted/distributed manner -- isn't the central point of failure here still Sia itself?
A gov't could still "Shut down" Sia's offices, employees etc and users would have no way to access their data (although gov't wouldn't be able to access user data either).
Are there other storage options (STORJ?) that offer distributed/encrypted storage, but in a manner users can still access even if the company itself closes down?
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I also bought them today :)
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bought a small amount last week when it was less than a penny. what caused the surge today?
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Maybe this: https://twitter.com/SiaTechHQ/status/876805824160690182
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Hmm, seems like a tease, but I'm new to this world of SC so we'll see what happens. I guess i need to decide now if I want to stock up on more before this magical mystery thing happens.
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Oh wow, I missed this cryptic announcement too, "Obelisk"
https://twitter.com/SiaTechHQ/status/876805824160690182
No idea what it is, but the tease alone should help the price stay near the new ATH.
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